Nifty-Micro Analysis of Intra Day Chart For 27-12-2011
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1- Firstly 60 points up in 1st hour.
2- Last 5 hours trading with mixed intraday patterns between 4758-4787
3- Whole day trading between 4727-4787
Conclusions from intra day chart analysis
Firstly 60 points up in 1st hour and then last more than 5 hours trading with mixed intraday patterns between 4758-4787 therefore no clear confirmation from intraday charts formations today. Break out and sustaining beyond today last 5 hours range will be next immediate move confirmation and first of all that will be watched tomorrow.
4 Sessions Pull Back Rally and that will gain strength after sustaining above minimum 1st resistance(4780-4838) and then Short term trend will be up.
As last Thursday minor intraday correction was concluded and last Friday rally continuation got confirmation and that was clearly projected same day but no such conclusion today therefore no guessing and nothing adding from our side and follwoing conclusions are being given:-
Mixed intraday patterns in last 5 hours therefore finally confirmation will be sustaining beyond 4758-4787. As minor consolidation patterns signals also seen within 29 points range today therefore upward break out is expected also.
Sustaining beyond mentioned range(4758-4787) will be firstly watched tomorrow for next immediate moves confirmations.